JSW Energy Makes Strides in Battery Energy Storage with Landmark Agreement

New Delhi, March 5: JSW Energy, a leading Indian power company, announced on Tuesday that its subsidiary, JSW Renew Energy Five, has signed a battery energy storage purchase agreement (BESPA) for the first 250 MW/500 MWh standalone battery energy storage system. This marks a significant milestone in the company's commitment to clean energy and energy storage solutions.

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Project Details

The 250 MW/500 MWh battery energy storage system will provide power backup for two hours, giving a total output of 500 MW. The project is part of a larger 500 MW/1,000 MWh standalone battery energy storage system awarded to JSW Renew Energy Five by Solar Energy Corporation of India Limited (SECI). The company will be entitled to receive a fixed capacity charge of Rs 10.84 lakh per MW per month for twelve years for 60% of the total capacity, amounting to 150 MW/300 MWh. The utilization of the remaining 40% of the project capacity (100 MW/200 MWh) will be managed by JSW Energy.

Capacity and Expansion Plans

JSW Energy currently has a total locked-in generation capacity of 11 GW, comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and Letters of Awards (LoAs) for 1.2 GW. With the signing of this BESPA, the company has secured 500 MWh out of a total 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects. JSW Energy aims to have 9.8 GW of operational generation capacity by 2024, up from the current operational capacity of 7.2 GW. The company's long-term goal is to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.

Sustainability Goals

JSW Energy is committed to sustainability and reducing its environmental impact. The company has set an ambitious target to achieve a 50% reduction in carbon footprint by 2030 and achieve Carbon Neutrality by 2050. The adoption of battery energy storage systems and other renewable energy solutions plays a crucial role in achieving these sustainability goals.

JSW Energy's investment in battery energy storage systems demonstrates the company's commitment to clean energy and its efforts to decarbonize its operations. The 250 MW/500 MWh standalone battery energy storage system is a significant step towards achieving the company's sustainability goals and contributing to India's transition to a cleaner energy future.